AT&T (NYSE:T – Get Rating) posted its earnings results on Wednesday. The technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03, RTT News reports. The business had revenue of $31.30 billion during the quarter, compared to the consensus estimate of $31.50 billion. AT&T had a return on equity of 13.24% and a net margin of 14.44%. The business’s quarterly revenue was down 23.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 EPS. AT&T updated its FY23 guidance to $2.35-2.45 EPS.
AT&T Stock Performance
NYSE T opened at $19.16 on Wednesday. The business has a 50 day moving average price of $18.92 and a 200 day moving average price of $18.08. The company has a market capitalization of $136.55 billion, a P/E ratio of 7.10, a PEG ratio of 2.23 and a beta of 0.61. AT&T has a 1-year low of $14.46 and a 1-year high of $22.84. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.54.
AT&T Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.79%. The ex-dividend date is Monday, January 9th. AT&T’s dividend payout ratio (DPR) is 41.11%.
Institutional Trading of AT&T
Wall Street Analyst Weigh In
Several research analysts have commented on T shares. Credit Suisse Group cut their price target on AT&T from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, October 17th. Morgan Stanley downgraded shares of AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock. in a research report on Thursday, December 15th. StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Barclays raised their price target on AT&T from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, October 24th. Finally, Royal Bank of Canada reduced their price objective on AT&T from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Friday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.67.
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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